Peter Obi has called on President Bola Tinubu to explain how his administration has spent the nearly $100 billion in loans reportedly secured since taking office in May 2023.
The former Anambra State governor and presidential candidate of the Nigeria Democratic Congress (NDC) made the demand during a town hall meeting in Enugu on Thursday, questioning what Nigerians had gained from the country’s growing debt burden.
Obi argued that the President should take his message directly to the people by spending at least 36 days travelling across the country to give account of his government’s activities and explain how borrowed funds have been utilised.
He maintained that Nigerians deserve clear answers on the loans being accumulated in their name, particularly at a time when many households are struggling with economic challenges.
The former Labour Party presidential candidate also criticised the continued borrowing by the Federal Government, asking what tangible benefits the country had received from the funds already obtained.
His comments come as the Tinubu administration seeks parliamentary approval for another $21.7 billion in external loans to finance projects and government programmes between 2026 and 2027.
Obi, who has made accountability and transparency central to his political message, promised that public borrowing under his leadership would be tied to projects capable of improving the lives of ordinary Nigerians.
He insisted that government must be able to show citizens exactly where public funds are going, stressing that borrowing should translate into visible development rather than add to the financial burden of future generations.
